Block, Inc. (NYSE:SQ) Shares Purchased by Baker Tilly Wealth Management LLC

Baker Tilly Wealth Management LLC grew its stake in shares of Block, Inc. (NYSE:SQ) by 4.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 5,637 shares of the technology company’s stock after acquiring an additional 219 shares during the period. Baker Tilly Wealth Management LLC’s holdings in Block were worth $479,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SQ. Southpoint Capital Advisors LP acquired a new position in Block during the third quarter valued at $114,121,000. Massachusetts Financial Services Co. MA raised its position in Block by 770.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,738,708 shares of the technology company’s stock valued at $116,719,000 after acquiring an additional 1,538,849 shares in the last quarter. Lone Pine Capital LLC lifted its stake in Block by 13.9% in the second quarter. Lone Pine Capital LLC now owns 7,670,523 shares of the technology company’s stock valued at $494,672,000 after acquiring an additional 934,588 shares during the last quarter. D1 Capital Partners L.P. lifted its stake in Block by 76.7% in the second quarter. D1 Capital Partners L.P. now owns 1,831,342 shares of the technology company’s stock valued at $118,103,000 after acquiring an additional 795,000 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of Block by 1,061.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 657,667 shares of the technology company’s stock worth $42,413,000 after purchasing an additional 601,020 shares during the last quarter. 70.44% of the stock is owned by institutional investors.

Block Stock Performance

NYSE:SQ opened at $82.66 on Friday. The firm has a market capitalization of $51.23 billion, a PE ratio of 46.44, a price-to-earnings-growth ratio of 1.23 and a beta of 2.51. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.26. Block, Inc. has a 12-month low of $55.00 and a 12-month high of $99.26. The firm has a 50-day moving average price of $88.60 and a 200 day moving average price of $73.96.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on SQ shares. BNP Paribas cut shares of Block from an “outperform” rating to a “neutral” rating and set a $88.00 price objective for the company. in a report on Wednesday, November 20th. Oppenheimer upgraded Block from a “market perform” rating to an “outperform” rating and set a $115.00 price target for the company in a research note on Thursday, December 19th. Needham & Company LLC increased their price objective on Block from $80.00 to $90.00 and gave the company a “buy” rating in a report on Friday, November 8th. Morgan Stanley boosted their target price on Block from $60.00 to $65.00 and gave the stock an “underweight” rating in a report on Wednesday, December 18th. Finally, BMO Capital Markets downgraded Block from an “outperform” rating to a “market perform” rating and increased their price target for the company from $94.00 to $100.00 in a report on Monday, November 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $96.77.

Insider Transactions at Block

In related news, CAO Ajmere Dale sold 1,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $80.00, for a total transaction of $80,000.00. Following the completion of the sale, the chief accounting officer now owns 88,791 shares in the company, valued at $7,103,280. This trade represents a 1.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Owen Britton Jennings sold 2,836 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $89.38, for a total transaction of $253,481.68. Following the completion of the transaction, the insider now owns 195,449 shares in the company, valued at approximately $17,469,231.62. This trade represents a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,981 shares of company stock valued at $2,681,185. Corporate insiders own 10.49% of the company’s stock.

Block Profile

Square, Inc provides payment and point-of-sale solutions in the United States and internationally. The company's commerce ecosystem includes point-of-sale software and hardware that enables sellers to turn mobile and computing devices into payment and point-of-sale solutions. It offers hardware products, including Magstripe reader, which enables swiped transactions of magnetic stripe cards; Contactless and chip reader that accepts EMV® chip cards and Near Field Communication payments; Chip card reader, which accepts EMV® chip cards and enables swiped transactions of magnetic stripe cards; Square Stand, which enables an iPad to be used as a payment terminal or full point of sale solution; and Square Register that combines its hardware, point-of-sale software, and payments technology, as well as managed payments solutions.